By ZBC Reporter
Zimbabwe’s prospects of becoming a lithium hub are on course after a take-off agreement between the country’s Lithium Mine, Arcadia, and Russia’s Uranium One.
With exploration at Prospect Resources’ Arcadia Lithium Mine in Goromonzi complete, the company has entered into take-off agreement with global commodities producer, Russia’s Uranium One.
In an effort to expedite the deal, Prospect Resources has appointed Renaissance Equities and Capital as a transaction advisor in a move that further unlocks funding for the project.
“The deal will see Renaissance becoming an equity partner in the off-take agreement which is also expected to finalise our cooperation with Uranium One,” said Prospect Resources Chief Executive Officer Sam Horsark.
The appointment of Renaissance is a major step in not only creating strong supply chains of lithium but harnessing Prospect Resources capital raising initiatives which will see Zimbabwe playing a huge role in the blossoming electric vehicle market.